Match the Misstatement letter With the given scenario ( Auditing )

Requirement d. For each control, identify a likely misstatement, assuming that the control does not exist or is not functioning. (Possible misstatements may be used more than once.) (Click the icon to view the possible misstatements.) i X Possible Misstatement Possible Misstatements Internal Controls 1. Approved purchase orders are required for all acquisitions of goods. Prenumbered receiving reports are prepared as support for acquisitions and 2. numerically accounted for. Dates on receiving reports are compared with vendors' invoices before entry into the 3. acquisitions journal. j. A misstatement in calculation of a vendor's invoice. k. Account classification misstatements. 1. Bookkeeper takes signed check and changes payee name. m. Cutoff misstatements. n. Duplicate payment for an acquisition. 0. Invalid or unauthorized payment. 4. Account classifications are reviewed by someone other than the preparer. 5. Vendors' invoices are recalculated before payment. 6. All checks are signed by the owner or manager The authorized signer compares data on supporting documents with checks and 7. electronic funds transfer authorizations. 8. Checks are mailed by the owner or a person under her supervision after signing. All supporting documents are cancelled after checks are signed or electronic funds 9. transfers are approved. The accounts payable master file is updated, balanced, and reconciled to the general 10. ledger monthly. p. Misstatements in master file or control account. q. Unauthorized acquisitions of goods. Unrecorded acquisitions exist. Print Done Choose from any drop-down list and then click Check